In this strong buyer’s market, it is interesting to see what neighborhoods in the Charlotte metro area had the highest number of sales in 2009. Real estate is local, so you really must focus in on stats for pocket Sub Areas to see sales trends.  Often we look at numbers on a larger scale, but what homeowners  really want to know is…what is selling in my local community?

Let’s take single family homes in Birkdale / Huntersville, NC  area for example (which is located in the 28078 zip code, and subarea 9-5 ).  For 2009, here are the top selling neighborhoods:

Top Selling Single Family Neighborhoods in Area 9-5 in 2009:

1.  Birkdale / Birkdale Village: 53 sold, $195-$527K price range

2.  Macaulay: 30 sold, $190 – $435K price range

3.  Cedarfield: 26 sold, $155 -278K price range

4.  Henderson Park: 17 sold, $150- 231K price range

5.  Tanners Creek: 15 sold, $150 – $231K price range

Top Selling Single Family Neighborhoods in 28078 in 2009:

1.  Birkdale / Birkdale Village: 53 sold, $195-$527K price range

2.  Monteith Park / Monteith Place: 46 sold, $145 – $360K price range

3.  Macaulay: 30 sold, $190 – $435K price range

4.  Cedarfield: 26 sold, $155 -278K price range

5.  Centennial: 21 sold, $212 – $305K price range

The majority of home sales in the Carolina Multiple Listing Service are in the $250,000 and under category, which has been hovering at approximately 75% of all sales for the past several months.  In contrast, homes priced above $350,000 to $500,000 account for 7% of home sales, and homes priced $500,000 to $1 million account for 5% of home sales, and homes priced over $1 million make up 0.8% of home sales.

 
Absorption rate pricing is the best way to price your home to sell in this competitive market.  This kind of analysis takes into consideration the month’s supply of  inventory on the market in your neighborhood (i.e. home listings that compete with your home).  There are only a certain number of homes that will sell in any market at any given time.

• A 6 month supply of homes for sale is a balanced market.
• Less than 6 months supply of homes is a Seller’s market (not enough homes to fill demand).
• More than 6 month supply of home inventory for sale is a Buyer’s market (not enough Buyers to purchase the supply).

Helen Adams agents are versed in Absorption Rate pricing.  Ask your agent to conduct an Absorption Rate pricing analysis on your neighborhood, so that you can determine the saleability of your home.  AND if you are a BUYER, why utilize an Absorption rate study to discover the hottest-selling neighborhoods in town, so that you can ensure a sound investment?